Summary: As of now, users cannot buy BNB (Binance Coin) with PayPal directly since it isn’t included in PayPal’s offering. To buy BNB with PayPal, you have to use third-party intermediary services such as cryptocurrency exchanges and brokerages such as eToro.
Intermediate Traders and Investors
Can you buy BNB with PayPal?
Binance Coin (BNB) is among the most popular cryptocurrencies on the market and one of the largest by market capitalization and volume of trade. Despite this, it still isn’t among the cryptocurrencies offered by PayPal via its platform, which is reserved for Ethereum (ETH), Bitcoin (BTC), Litecoin (LTC), and Bitcoin Cash (BCH) only.
In short, you can’t buy Binance Coin (BNB) directly through PayPal. That said, you can still use PayPal together with a third-party investment platform to buy BNB. The only step you need to take is to connect your PayPal deposit with an intermediary brokerage of your choice, which you can then use to execute the purchase.
Even if you could buy BNB with the PayPal app directly, you probably wouldn’t want to. PayPal’s cryptocurrency transfer fees are notoriously higher than those of most cryptocurrency exchanges online. By using a middle-man service, you can easily bypass the fees that go up to 1.8% without spread expenses. In comparison, that’s almost double that of eToro’s, which is constant at 1% in all cases.
How to buy BNB with PayPal?
The most cost-effective way to buy BNB with PayPal is to use the intermediary services of a trusted and well-renowned investing platform like eToro. Being one of the top-rated brokerages of its type around, this platform is home to almost 30 million crypto traders.
With 60+ tokens available for trade, eToro’s selection dwarfs that of PayPal. What’s more, eToro gives access to features such as copy trading, staking, and hodling, along with multiple analytical tools and charts that make crypto trading easier.
So, how about you start buying? Simply connect your PayPal account and give eToro access to its deposit. PayPal can provide you with cash from a bank account, a credit/debit card, or a prepaid card. Once you have ensured that there are enough funds in your account, you can proceed to buy BNB. Ready?
How to buy BNB with PayPal: Step-by-Step
Just follow these four steps to buy BNB with PayPal simply and fast:
- Step 1: Make an eToro account and pass the verification process (personal or company);
- Step 2: Enter the amount of cash you want to transfer to your eToro account;
- Step 3: Connect your PayPal to activate your currency;
- Step 4: Select BNB from the list of cryptocurrencies and buy the amount you want.
Intermediate Traders and Investors
BNB price today
PayPal (NASDAQ: PYPL) is a global presence in the online payments industry. You know what we’re talking about: millions from around the globe use it daily to commit transactions at any time–you and me included. PayPal is known for the versatility of its service, high standards of safety, and practical flexibility can be relied upon. With only access to a bank account or a credit/debit card, you can send and receive money in short amounts of time or even instantly.
It is important to add that PayPal quickly embraces financial innovations, such as cryptocurrency. This helps them stay on top of current trends and ensures quality service to its users.
PayPal crypto policy
In one of his speeches Dan Schulman, the CEO of PayPal, “praised the utility that digital currencies can provide for payments.” This corresponds with PayPal’s crypto policy: the platform wholeheartedly supports cryptocurrency and has no official stance that inhibits trading in digital assets in any way. It has even embraced several tokens and allowed their purchase directly through its app.
To conclude, you’re allowed to buy BNB with PayPal from regulated brokerages without restrictions.
How to buy crypto safely
After all those years of debate, it’s become evident that crypto is here to stay. Perhaps it’s not yet at the same level as fiat, but cryptocurrency is already legal tender for two countries and accepted by many reputable businesses all over the world.
New developments have made blockchain technologies safer and less impactful on the environment. People are more informed about the advantages of crypto. Everything indicates that cryptocurrencies are heading toward their rightful place in our society.
Still, the crypto market is neither a peaceful nor stable place. Volatile value drops and changes in trends shake the industry, making beggars and millionaires on a whim. To make matters worse, there are people lying in ambush for those less experienced to scam or rob them of their funds.
There are, however, ways to keep safe in this new and changing environment. Make sure to follow these steps to minimize the chances of anything unwanted happening to you:
- Learn your crypto craft before you start trading: Always perform the necessary research on crypto and how it works before trading. No use crying over spilled milk.
- Use trusted third-party brokerages only: Never take third-party services for their word. Do your own checks to see whether an exchange isn’t anything shady. Go through terms of the agreement, security policies, and reviews of users online. See a red flag? It might be best to look elsewhere.
- Use secure devices only: Public networks and devices shared with other users are a big no-no in the industry. If there’s a backdoor to your funds, hackers will find it. Ensure that you use secure devices only. For an extra layer of security, set up a VPN.
- Use secure accounts only: Using your birthday date or anything like that as a password? Make sure to reconsider that decision unless you’re in love with hazard. Always use strong passwords. Always use two-factor authentication. Additionally, think about getting a crypto wallet. With a wallet as an extra layer of safety, ill-intended Internet users will find it virtually (if using a hot wallet) or physically (if using a cold wallet) impossible to take your funds away from you.
- Always keep track of your investments: Check the status of your funds as often as you can. The crypto market environment is fickle and prone to sudden changes. A couple of hours is all that it takes to miss your window of opportunity. Day trading is a profession for a reason, and professions tend to require an investment of your time and energy.
- Invest just what you can lose: Trading in crypto is a high-reward, but high-risk business. You’re investing with your livelihood. Never invest what you cannot afford. Also, don’t make these mistakes.
Disclaimer: The content on this site should not be considered investment advice. Investing is speculative. When investing, your capital is at risk.
FAQs about how to buy BNB with PayPal:
How to buy BNB with PayPal?
You can buy BNB with PayPal by using entrusting the deposit to a legit third-party cryptocurrency exchange to make a trade on your behalf.
Does PayPal allow cryptocurrency?
Where to buy BNB with PayPal?
You can buy BNB with PayPal from any exchange or brokerage that allows transferring funds from PayPal.
Is buying BNB with PayPal safe?
If you go along with the advice given in this guide, buying BNB with PayPal is safe.